Important notes when using 3S Wallet
- 1. Wallet address as your identity
- 2. Blockchain transaction is irreversible
- 3. Seed phrase as a master key
- 4. Right-place connection
- About 3S Wallet
Digital wallet has been becoming an essential tool to access the blockchain world, experience the vast metaverse and Web3 universes. Specifically, this innovative wallet will bridge the gap between users and all the decentralized applications or dApps, and allow cryptocurrency users to hold and manage their entire digital assets.
With the aim to deliver the most accurate guidelines, and completely guarantee assets for all the users based on their appropriate demand, BHO introduces the ultimate guide to using 3S wallet:
1. Wallet address as your identity
Being similar to a personal bank card, wallet address is closely linked with your general information (name, age, date of birth), permanent address, passport. Especially, along with the decentralized internet, wallet addresses can be seen as the only method to recognise your identity.
Wallet address is a sequence of numbers and letters without spaces or symbols. A BTC wallet address is a string of 34 numbers and lowercase letters that begin with the number 1 or 3, or "bc". The ETH wallet address begins with "0x" and is a string of 42 letters and numbers. Every wallet address will be uniquely generated, and become your identifier for your blockchain account. Additionally, the right to create an unlimited wallet enables the unlimited numbers of identities on the blockchain network.
2. Blockchain transaction is irreversible
Being operated like an one-way highway, transactions in blockchain are irreversible once being made, proving the extreme importance in sending cryptocurrency with the precise address and network.
In the case of making a transaction with the wrong address’s recipient, the only solution is contacting its owner for a refund request. Nevertheless, due to the blockchain’s anonymity feature, identity determination is almost impossible.
In the case of making a transaction with the correct address’s recipient and wrong network, it is possible to get your assets returned, which requires a complicated process and additional fees. Nevertheless, in case of sending your token to any network being unsupported by this current trading platform, your asset can be lost permanently.
Therefore, it is necessary to make sure that all your transactions are processed with the correct information.
3. Seed phrase as a master key
Security key phrases or Seed phrases can be totally considered as a master key. It can be explained that seed phrases are a series of random words (12 or 18 or 24 words) generated to recover in the case of losing your wallet password or wallet settings device.
Theoretically, digital wallets do not contain any of your assets. Instead, the entire quantity of your tokens, NFT, are stored on the blockchain, and wallets play as an assistant tool to access them. Besides, those who hold the seed phrases have the rights to fully manage.
Hence, do not forget to protect these seed phrases at the safest places.
4. Right-place connection
Better be alone than in ill company, be careful with any platforms you connect. The illegal activities such as phishing, impersonation through advertising, malicious emails and counterfeit websites are more and more rampant in the cryptocurrency world. Be careful while implementing cryptocurrency transactions and avoid any suspicious and unidentified linkage. Before connecting to any websites, make sure that your transaction is properly processed with a reliable address.
These above guidelines are indispensable, and should be required to those who use a 3S Wallet or any wallets on the market.
About 3S Wallet
The 3S Wallet product has been completed in terms of features and technology and will be officially launched to users on June 28, 2022.
Inheriting the heritage of experience from the first generation of Web3 wallets such as MetaMask, Trust Wallet,... 3S Wallet is strongly expected to integrate more innovative features, thereby delivering the most comprehensive experiences compared to the general market, especially totally empowering the community. Following that, BHO Network Team does not hesitate to hear your feedback, and effortfully fix the product structures as proposed by users.
The first version of the 3S Wallet product was launched on June 28. Please try it out and send us suggestions for improvement to make 3S Wallet better!
Published on July 04, 2022
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